Shavemead Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01409174 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2018

for

Shavemead Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

S C A Maynard

D J Martin

E R Field

SECRETARY:

S C A Maynard

REGISTERED OFFICE:

26 Hadham Road

Bishops Stortford

Hertfordshire

CM23 2QS

REGISTERED NUMBER:

01409174 (England and Wales)

ACCOUNTANTS:

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

-

3,000,000

-

3,000,000

CURRENT ASSETS

Stocks

1,239,235

-

Debtors

6

107,497

27,949

Cash at bank

1,744,982

50,249

3,091,714

78,198

CREDITORS

Amounts falling due within one year

7

485,514

40,573

NET CURRENT ASSETS

2,606,200

37,625

TOTAL ASSETS LESS CURRENT LIABILITIES

2,606,200

3,037,625

PROVISIONS FOR LIABILITIES

8

-

438,000

NET ASSETS

2,606,200

2,599,625

CAPITAL AND RESERVES

Called up share capital

9

100

100

Fair value reserve

-

2,389,510

Retained earnings

2,606,100

210,015

SHAREHOLDERS' FUNDS

2,606,200

2,599,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 August 2018 and were signed on its behalf by:

S C A Maynard - Director

E R Field - Director

D J Martin - Director

1.	STATUTORY INFORMATION

Shavemead Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Revenue from operating leases is recognised on a straight-line basis over the lease term. The aggregate cost of

any lease incentives provided is recognised as a reduction to the revenue recognised on a straight-line basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at

fair value at each reporting date and changes in fair value are recognised in profit or loss.

In order to ascertain the fair value at each reporting date, investment properties have been valued using an open

market valuation on a freehold basis subject to the existing tenancies. Revaluations are conducted annually by

the directors.

Work in progress

Work in progress is valued at the lower of cost and estimated selling price less costs to complete and sell. Cost

includes purchase price, stamp duty land tax, legal fees and other costs attributable to the acquisition of

development property and all costs directly incurred in construction or conversion of the property to its finished

state ready for sale.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice

of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three

months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant

risk of change in value.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement

constitutes a finance transaction it is measure at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2017

35,295

Disposals

(35,295

)

At 30 April 2018

-

DEPRECIATION

At 1 May 2017

35,295

Eliminated on disposal

(35,295

)

At 30 April 2018

-

NET BOOK VALUE

At 30 April 2018

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2017

3,000,000

Disposals

(3,000,000

)

At 30 April 2018

-

NET BOOK VALUE

At 30 April 2018

-

At 30 April 2017

3,000,000

6.

DEBTORS

30.4.18

30.4.17

£

£

Amounts falling due within one year:

Trade debtors

-

2,350

Other debtors

83,172

20,599

83,172

22,949

Amounts falling due after more than one year:

Other debtors

24,325

5,000

Aggregate amounts

107,497

27,949

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade creditors

330

1,647

Taxation and social security

484,074

36,926

Other creditors

1,110

2,000

485,514

40,573

8.	PROVISIONS FOR LIABILITIES

30.4.18

30.4.17

£

£

Deferred tax

Other timing differences

-

438,000

Deferred

tax

£

Balance at 1 May 2017

438,000

Credit to Income Statement during year

(438,000

)

Balance at 30 April 2018

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.18

30.4.17

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2018 and

30 April 2017:

30.4.18

30.4.17

£

£

E R Field

Balance outstanding at start of year

20,000

20,000

Amounts advanced

28,947

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

48,947

20,000

D J Martin

Balance outstanding at start of year

-

-

Amounts advanced

2,514

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,514

-

S C A Maynard

Balance outstanding at start of year

-

-

Amounts advanced

28,002

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

28,002

-

Interest is charged on directors' loans at 3% per annum and compounded annually.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Shavemead Limited for the year ended 30 April 2018 which comprise the Income Statement,

Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Shavemead Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shavemead Limited and state those matters that we have agreed to state to the Board of Directors of Shavemead Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shavemead Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Shavemead Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Shavemead Limited. You consider that Shavemead Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Shavemead Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

7 September 2018